Question

The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sa
image.png
image.png
0 0
Add a comment Improve this question Transcribed image text
Answer #1
Computation of Estimated sales
Particulars Quarter 1 Quarter 2 Quarter 3 Quarter 4 Year
Unit Sales 13000 14000 16000 15000 58000
Selling price per unit $29.00 $29.00 $29.00 $29.00 $29.00
Estimated Sales $377,000.00 $406,000.00 $464,000.00 $435,000.00 $1,682,000.00
Solution 2:
Computation of Expected cash collection
Particulars Quarter 1 Quarter 2 Quarter 3 Quarter 4 Year
Collection of Accounts receivable $74,200.00 $74,200.00
Collection of sales (65% in 1st quarter and 30% in 2nd Quarter:
1st Quarter collection $245,050.00 $113,100.00 $358,150.00
2nd Quarter collection $263,900.00 $121,800.00 $385,700.00
3rd Quarter collection $301,600.00 $139,200.00 $440,800.00
4th Quarter collection $282,750.00 $282,750.00
Total Expected Cash Collection $319,250.00 $377,000.00 $423,400.00 $421,950.00 $1,541,600.00
Solution 3:
Computation of Estimated production of Finished goods
Particulars Quarter 1 Quarter 2 Quarter 3 Quarter 4 Year
Sales units 13000 14000 16000 15000 58000
Add: Desired ending inventory (20% of next quarter sales) 2800 3200 3000 2800 2800
Less: Beginning Inventory 2600 2800 3200 3000 2600
Required Production ( unts) 13200 14400 15800 14800 58200
Add a comment
Know the answer?
Add Answer to:
The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal...

    The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account) 1st Quarter 2nd Quarter 3rd Quarter 14,000 4th Quarter 13,000 Brudgeted unit sales 11, 000 12,000 The selling price of the company's product is $18.00 per unit. Management expects to collect 65 % of sales in the quarter in which the sales are made, 30% In the following quarter, and 5% of sales are expected to be uncollectible....

  • The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal...

    The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account): 1st Quarter 13,000 Budgeted unit sales 2nd Quarter 3rd Quarter 4th Quarter 14,000 16,000 15.000 The selling price of the company's product is $29 per unit. Management expects to collect 65% of sales in the quarter in which the sales are made, 30% in the following quarter, and 5% of sales are expected to be uncollectible. The beginning...

  • The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal...

    The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account): Budgeted unit sales 1st Quarter 13,000 2nd Quarter 14,000 3rd Quarter 16,000 4th Quarter 15,000 The selling price of the company's product is $29 per unit. Management expects to collect 65% of sales in the quarter in which the sales are made, 30% in the following quarter, and 5% of sales are expected to be uncollectible. The beginning...

  • The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal...

    The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account): Budgeted unit sales 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 12,300 13,300 1 5,300 14,300 The selling price of the company's product is $22 per unit. Management expects to collect 75% of sales in the quarter in which the sales are made, 20% in the following quarter, and 5% of sales are expected to be uncollectible. The...

  • The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal...

    The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account): Budgeted unit sales 1st Quarter 11,800 2nd Quarter 12,800 3rd Quarter 14,800 4th Quarter 13,800 The selling price of the company's product is $17 per unit. Management expects to collect 65% of sales in the quarter in which the sales are made, 30% in the following quarter, and 5% of sales are expected to be uncollectible. The beginning...

  • The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal...

    The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account): 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Budgeted unit sales 11,800 12,800 14,800 13,800 The selling price of the company’s product is $17 per unit. Management expects to collect 65% of sales in the quarter in which the sales are made, 30% in the following quarter, and 5% of sales are expected to be uncollectible. The beginning...

  • The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal...

    The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account): Budgeted unit sales 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 11,200 12,200 14,200 13,200 The selling price of the company's product is $11 per unit. Management expects to collect 65% of sales in the quarter in which the sales are made, 30% in the following quarter, and 5% of sales are expected to be uncollectible. The beginning...

  • The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal...

    The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account): Budgeted unit sales 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 11,400 12,400 14,400 13,400 The selling price of the company's product is $13 per unit. Management expects to collect 65% of sales in the quarter in which the sales are made, 30% in the following quarter, and 5% of sales are expected to be uncollectible. The beginning...

  • The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal...

    The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account): 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 12,600 Budgeted unit sales 13,600 15,600 14,600 The selling price of the company's product is $25 per unit. Management expects to collect 65 % of sales in the quarter in which the sales are made, 30 % in the following quarter, and 5 % of sales are expected to be...

  • The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal...

    The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account): 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Budgeted unit sales 13,000 14,000 16,000 15,000 The selling price of the company’s product is $29 per unit. Management expects to collect 65% of sales in the quarter in which the sales are made, 30% in the following quarter, and 5% of sales are expected to be uncollectible. The beginning...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT